‘Venture philanthropy:’ The new investing hope to fund scientific breakthroughs

Investors normally trade stocks, bonds or real estate, but entrepreneur Michael Hyatt is investing in science projects in hopes of backing an experiment that changes history. The chair of the Hyatt Family Foundation is teaming up with Sick Children’s Hospital in Toronto to create a fusion between investing and charity — they call it venture philanthropy. “It hasn’t been done in our country. I thought, ‘why can’t I use my instincts and understanding and funding…

"‘Venture philanthropy:’ The new investing hope to fund scientific breakthroughs"

Smart maintains lead in speed, other metrics

SMART Communications, Inc. continues to enjoy the top spot for mobile network experience in the Philippines according to the latest report of Opensignal, but its fourth-generation (4G) download speed has seen a decline in recent months. The United Kingdom-based wireless coverage mapping firm said in its Mobile Network Experience report, which covered data from May 1 to July 29, that Smart is still the leading telecommunications firm in the country in terms of video experience,…

"Smart maintains lead in speed, other metrics"

Tax appeals court affirms San Miguel refund claim, but nixes new trial

THE Court of Tax Appeals (CTA) affirmed the P44.5-million tax refund claim it partially granted to San Miguel Brewery, Inc. on the excise taxes erroneously collected on removals of its alcohol products in 2015. In a 10-page resolution on Sept. 17, the court’s special second division denied for lack of merit the motion for partial new trial of San Miguel and the motion for partial reconsideration of the Bureau of Internal Revenue (BIR). “In sum,…

"Tax appeals court affirms San Miguel refund claim, but nixes new trial"

Investors unload Phinma Energy Corp. shares after the planned stock rights offering

By Marissa Mae M. RamosResearcher NEWS of Phinma Energy Corp.’s (now AC Energy Philippines, Inc.) plans to fuel its expansion through a stock rights offering (SRO) made the stock one of the most actively traded last week. Data from the Philippine Stock Exchange showed the listed energy firm trading P413.267 million worth of 149.288 million shares from Sept. 16-20. Shares closed at P2.69 apiece on Friday, 8.8% down week on week from its P2.95 per…

"Investors unload Phinma Energy Corp. shares after the planned stock rights offering"

PSE unit invests P200 million in new clearing system

THE Philippine Stock Exchange — PHOTO BY SANTIAGO J. ARNAIZ A UNIT of the Philippine Stock Exchange, Inc. (PSE) is investing P200 million for a new clearing and settlement system. In a disclosure posted Friday, the PSE said its wholly owned unit Securities Clearing Corporation of the Philippines’ (SCCP) board of directors has approved the issuance of two million shares worth P200 million from the unissued portion of its authorized capital stock to the company. “SCCP…

"PSE unit invests P200 million in new clearing system"

Cebu’s JDC plans expansion, looks for partners

By Arra B. FranciaSenior Reporter CEBU-BASED property developer JEG Development Corp. (JDC) is boosting its presence in the Visayan capital with the launch of four projects in the following years, while also looking for more partnerships for the future. JDC Chief Operating Officer Marko G. Sarmiento said they currently have the land bank to develop four vertical projects in the city, although plans have yet to be finalized. “It’s still not final, but they will…

"Cebu’s JDC plans expansion, looks for partners"

Swiss challenge for two road projects under review delayed

By Denise A. ValdezReporter THE Swiss challenge for the unsolicited proposals of the Metro Pacific group for the Cavite-Tagaytay-Batangas Expressway (CTBEx) and the San Miguel group for the extension of the Tarlac-Pangasinan-La Union Expressway (TPLEx) may not make it within the year. The Department of Public Works and Highways (DPWH) told BusinessWorld over the weekend the two projects are still with the National Economic and Development Authority (NEDA) for review. The Swiss challenge, or the…

"Swiss challenge for two road projects under review delayed"

Phinma Petroleum contractor Century Red withdraws from SC55

PHINMA Petroleum and Geothermal, Inc. (PPG) said Friday that one of the co-contractor partners of its subsidiary in an exploration service contract in offshore Palawan had assigned its interest in the project to another exploration firm. PPG, whose change of name to ACE Enexor, Inc. was approved by shareholders earlier this week, told the stock exchange of Palawan55 Exploration and Production Corp.’s receipt of the deed of assignment from Century Red, Pte. Ltd. Century Red…

"Phinma Petroleum contractor Century Red withdraws from SC55"

Rockwell Land lengthens term of Metrobank facility by 3 years

ROCKWELL Land Corp. is extending the expiration date of its long-term debt which it has been using to finance capital expenditures. In a disclosure to the stock exchange Friday, the property developer said its board approved on Thursday moving the expiration date of its P5-billion long-term loan facility to Dec. 31, 2025 from Dec. 10, 2022. “The proceeds of the loan will be used to fund capital expenditures, company acquisitions and investments,” it said. In…

"Rockwell Land lengthens term of Metrobank facility by 3 years"

JG Summit names head of analytics arm DAVI, digital VC unit

JG Summit Holdings, Inc. is tapping a former executive of a PLDT, Inc. company to handle two of its data analytics and digital companies. The conglomerate said in a statement Friday it appointed Elmer M. Malolos as chief executive officer of Data Analytics Ventures, Inc. (DAVI) and JG Digital Equity Ventures, Inc. (JG DEV). In joining DAVI, Mr. Malolos is expected to create a digital rewards program for JG Summit’s consumer-oriented businesses, while in JG…

"JG Summit names head of analytics arm DAVI, digital VC unit"